PG&E’s board of directors on Friday revealed it has launched a wide-ranging review of the company as the embattled utility attempts to navigate an increasingly forbidding landscape of legal, criminal and regulatory challenges in the wake of a series of lethal wildfires that scorched Northern California in 2017 and 2018.

This sort of wide-ranging review by a publicly held company can often include sales or spin-offs of assets, as well as an assessment about whether the company can meet its financial obligations.

Companies sometimes file for bankruptcy when they lack the cash or borrowing power to pay their debts or legal obligations. PG&E filed for bankruptcy in 2001 during a crisis in the electricity markets.

“PG&E’s board is conducting a board refreshment process that includes searching for new directors at both the holding company and its utility subsidiary Pacific Gas and Electric Company,” PG&E’s board of directors stated.

At present, PG&E’s primary operating unit is a utility that handles electricity and natural gas operations. The state Public Utilities Commission and state legislative critics such as state Sen. Jerry Hill have suggested PG&E may be “too big to succeed.”

One option that critics of the company have raised is PG&E should contemplate breaking apart the gas and electricity operations.

“The board is looking to add fresh perspectives to augment its existing expertise in safety, operations, and other critical areas,” PG&E stated.